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Saturday, July 21, 2012

Demasi Story Figure, Stuart Simonsen, Now Defendant in Numerous New Lawsuits

2012.05.23 Complaint Transcend v. Simonsen 2012 01 12 Krohne Capital v Simonsen
Simonsen was, according to Demasi, Tony Demasi's partner. Simonsen denied this and testified under oath that Demasi was simply leasing a software program to trade derivatives from Simonsen.

That became the center piece of Tony Demasi's argument when he plead guilty to a number of fraud related charges. Demasi claimed that he and Simonsen sold Simonsen's software system to a Chicago hedge fund and that he was entitled to a piece of those profits, estimated to be near 100 million dollars.

Simonsen claimed that Demasi wasn't Simonsen's partner and eventually a judge in Montana ruled in Simonsen's favor.

26 comments:

Anonymous said...

Rumor is that these are the smaller suits pending against Simonsen.....

Anonymous said...

Rumor is that a forth lawsuit is about to filed against Simonsen in NY.....

Anonymous said...

No longer a rumor....4 lawsuits against Simonsen. Claims over 30mm...the walls are closing in on a very bad guy.

Anonymous said...

No longer a rumor....4 lawsuits against Simonsen. Claims over 30mm...the walls are closing in on a very bad guy.

Anonymous said...

What or where is proof of new lawsuits.

Anonymous said...

Obviously proof of 2 of the lawsuits are above. cuious about the other 2.

Anonymous said...

Rumor is Simonsen is filing bankruptcy with the biggest suit against him (in Illinois) coming to a head. No hiding from fraud....

Anonymous said...

Let us know when bankruptcy is official

Anonymous said...

Rumor is Simonsen is in contempt and Judge has issued rulings against him. The walls continue to close in...guess he can't hide in his basement anymore.

Anonymous said...

In which case have rulings been insued?

Anonymous said...

Heared default judgement issued in Illinois....big $$$.

Anonymous said...

Stuart Simonsens business Montana Cycling and ski is closing down. As usual he owes money to all of his vendors!

Anonymous said...

Can't wait for a trustee to come in a divide the scum bags assets!

Anonymous said...

i hope he doesnt skate and finally has to pay up.

Anonymous said...

Rumor is Simonsen is looking for bankruptcy representation!!! Can't wait for his fraud to hit the newspapers.

Anonymous said...

His business Montana cycling and skiing is closed, just read this.
8/7/2013 39 FINAL JUDGMENT ORDER is hereby entered on Count I of Plaintiff's Complaint in favor of Plaintiff Transcend Investments LLC and against Defendant Stuart Simonsen in the sum of $606,475.05. Counts II and III of Plaintiff's Complaint are voluntarily dismissed without prejudice. The Court previously granted Plaintiff's motion for judgment on the pleadings on Count I of its complaint in the amount of $574,002.60 plus attorneys' fees in the amount of $31,855.00 and costs of $617.45, on June 27, 2013. Civil case terminated. Signed by the Honorable Harry D. Leinenweber on 8/7/2013:Mailed notice(wp, ) (Entered: 08/16/2013)

Anonymous said...

There is another judgement against Simonsen and one of his 27 LLC's for $24 Million. Court ruled against him back in June 2013.

Anonymous said...

Rumor is that Simonsen's wife has thrown him out of the house and divorce papers have been filed....

Anonymous said...

I dont even trust his divorce. What a better way to protect your house and money than say it got taken in a divorce.

Anonymous said...

Liens were placed before any alleged divorce, so he is on the hook regardless.

Anonymous said...

The next question: Will Simonsen be found in contempt for lying under oath ?

Anonymous said...

Rumor is that the feds and the IRS have been contacted.

Anonymous said...

Hope this is true. Time for this crook to pay.

Anonymous said...

June 21, 2013 Final Order against Simonsen personally and against GMS Devco for $19.2mm and $4.2mm respectively. Honorable Rodolfo Garcia case # 11 CH 05557 in Circuit Court of Cook County of the State of Illinois. Took a while to find, but another great read against a true scum bag. Simonsen should be in the bunk next to Madoff very soon.

Anonymous said...

Rumor is that Simonsen filed bankruptcy!!!

Anonymous said...

INteresting link! http://hartdavidlaw.com/deceitful-practices-lawsuit-brings-13m/